MIRA INFORM REPORT

 

 

Report Date :

03.10.2013

 

 

 

 

 

 

Tel No.:

4392222

Fax No.:

4394444

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

 

 

 

Payment Behaviour :

 

 

 

Litigation :

 

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March, 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Saudi Arabia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

saudi arabia - ECONOMIC OVERVIEW

 

Saudi Arabia has an oil-based economy with strong government controls over major economic activities. It possesses about 17% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. The petroleum sector accounts for roughly 80% of budget revenues, 45% of GDP, and 90% of export earnings. Saudi Arabia is encouraging the growth of the private sector in order to diversify its economy and to employ more Saudi nationals. Diversification efforts are focusing on power generation, telecommunications, natural gas exploration, and petrochemical sectors. Over 5 million foreign workers play an important role in the Saudi economy, particularly in the oil and service sectors, while Riyadh is struggling to reduce unemployment among its own nationals. Saudi officials are particularly focused on employing its large youth population, which generally lacks the education and technical skills the private sector needs. Riyadh has substantially boosted spending on job training and education, most recently with the opening of the King Abdallah University of Science and Technology - Saudi Arabia's first co-educational university. As part of its effort to attract foreign investment, Saudi Arabia acceded to the WTO in 2005. The government has begun establishing six "economic cities" in different regions of the country to promote foreign investment and plans to spend $373 billion between 2010 and 2014 on social development and infrastructure projects to advance Saudi Arabia''s economic development.

 

Source : CIA

 

COMPANY NAME

 

AL SAUDIA AL SHAMIQA

 

 

ADDRESS

 

Physical Address

 

PO Box             : 31116

Town                 : Riyadh 11497

Country             : Saudi Arabia

 

Telephone         : (966-1) 4392222

Facsimile          : (966-1) 4394444

 

 

GENERAL COMMENTS

 

Upon investigation local sources were unable to locate a company called “Al Saudia Al Shamiqa” in Riyadh. They also consulted local business directories and journals, as well as the local telephone operator however there was no mention of the subject of your enquiry.

 

Enquiries made with the Riyadh Chambers of Commerce also proved unsuccessful as they had no listing under the name of “Al Saudia Al Shamiqa”. The telephone number provided was tried on numerous occasions but remained unanswered.

 

Local informants reported that the above PO Box number is used by “Omar Ali Balsharaf Est for Trading”.

 

Should you be able to provide us with any further information on the subject of your enquiry we shall re-investigate and endeavour to send you a full report as soon as possible.

 

Important Note:

Kindly provide us with additional information such as Correct Name, Address, Contact Details, Name of Contact Person or a copy of the Upper Part of Letterhead within 15 days of receiving this report, a would be sent without any additional cost.

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.